- Eloro Resources recently published their updated corporate presentation online
- The company has been focused on its holdings within the Bolivian-based Iska Iska Property since 2020, with the site holding the potential of extensive silver and tin deposits
- Having successfully drilled over 120 holes within the site over the past three years, Eloro are now expanding their horizon to encompass the adjoining Casiterita property
- Eloro Resources are targeting the release of their initial mineral resource estimate (“MRE”) report later this year
Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) is an exploration and mining company focused on developing its potential world-class Iska Iska silver-tin polymetallic property located in the Potosi Department on southern Bolivia. Having acquired a 100% interest in the 9-square kilometre Iska Iska property in early 2020, the company has now carried out over 85,000 metres of exploratory diamond drilling across 122 holes between Sept. 2020 and Nov. 2022, with Eloro Resources set to publish their inaugural NI 43-101 mineral resource estimate in the near future.
Over the past few years, silver and tin have emerged as crucial components fuelling the global decarbonisation drive; widely sought after for their strong electrical and thermal conductive properties, both metals have transformed into vital ingredients within the energy transition supply chain with applications ranging from lithium-ion batteries, through to solar panels and electric vehicles. Nestled within the Cerro Rico de Potosi, an area renown globally as the world’s most prolific silver deposit and having hosted continuous mining activities dating back to the sixteenth century, the Potosi area was estimated some years ago to still hold a world-class silver and tin reserve amounting to over 500 million tonnes grading ~100g/t Ag and 0.2 Sn.
Discovered by Dr. Osvaldo Arce, a former President of the Bolivian Geological Society and highly prominent Bolivian geologist, and optioned by Eloro Resources as of Jan. 6, 2020, early exploratory drilling work at the Iska Iska site identified a major dacite porphyry in the center of the region’s caldera – a volcanic rock often associated with large mineral finds. Moreover, and having uncovered a number of holes featuring well mineralized intersections within the Santa Barabara Adit, expanding the strike extent of the Santa Barbara High-Grade Zone to upwards of 1,250m, Eloro Resources have now shifted their attentions towards the Mina Casiterita property, located to the immediate southwest of Iska Iska. Previously the site of extensive artisanal tin mining activity during the early 1960’s, Eloro’s recent magnetic surveys of the Mina Casiterita site have outlined the potential presence of an extensive, near surface, magnetic intrusive body within the property – a potential indicator of the presence of oxide and sulphide tin deposits in the near vicinity.
Eloro Resources have taken a number of steps in recent months and years to better position themselves to capitalize on the Iska Iska site’s mineral reserves, both through exploratory drill work as well as through extensive capital markets activity. Eloro Resources’ shares commenced trading on the Toronto Stock Exchange on March 2, 2023, with the company having simultaneously raised upwards of CDN$50 million through a series of primary market capital raisings as a measure by which to fully finance their ongoing mining operations.
Going forward, Eloro Resources remain on track to publish their inaugural NI 43-101 compliant mineral resource estimate focused around the Santa Barbara High Grade Zone and surrounding mineralized envelope, with the support of mining consultancy, Gemin Associates. Simultaneously, Eloro has looked to continue their ongoing drilling and geophysical surveys in the southernmost extremes of the Iska Iska site as well as within the Casiterita property to the southwest. A positive finding, coupled with initial successes within the site’s Santa Barbara region, could translate into a scenario, which as Eloro’s Executive Vice President of Exploration, Bill Pearson puts it, affords Eloro Resources the “remarkable opportunity at Iska Iska to outline [not one, but] two world-class deposits.”
For more information, visit the company’s website at www.EloroResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF
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